See: Builder’s Risk Policy.
Insurance Encyclopedia
Ship Owners Liability
The liability of a ship owner for injury, loss or damage which may arise in tort or under contract, mostly covered by membership of a Protection and Indemnity Club.
Ship Owners/Charterers Subsidiary Interests
(i) freight (time, voyage and anticipated) (ii) disbursements and (iii) premium reducing.
Ship Repairers for Liability Insurance
This covers liabilities of ship repairers towards vessels repaired by them.
Ship Repairers Liability (SRL)
SRL protects the ship repairer (i) against legal liability arising out of contracts (ii) whilst carrying out repairs/refurbishment to vessels and (iii) arising out of negligent act or omission.
Ship value
This is usually agreed each year between the shipowner and the leading underwriter.
Shipment
Freight tendered to a carrier by one consignor at one piece at one time for delivery to one consignee at one place on one bill of lading.
Shipowner’s liability
The liability of a shipowner for loss, injury or damage to others or the property of others arising in tort, contract or under statute. See PROTECTION AND INDEMNITY CLUBS; RUNNING DOWN CLAUSE.
Shipped bill
Bill of lading issued after the goods have actually been loaded. Under the Carriage of Goods by Sea Act 1971 a shipper may demand such a bill from the shipowner. Normally done by adding the name of the vessel and the date of shipment to the received for shipment bill.
Shipper
Term used to describe exporter. Mostly manufacturing companies.